Serica
Energy shares (LSE:SQZ) have dipped massively, thus rendering invalid the
short-term bullish bias in the market. There could be a rally attempt in the market,
but price would go southward again, because a bearish signal has been generated
in the market.
Price was forced
to go below the lower Trendline as a result of a breakout in the market. The
RSI period 14 is below the level 50. The bias on the market is now bearish.
Serica
Energy would go towards the demand levels at 60.00, 50.00 and 40.00 within the
next several months.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Traders' Mindset
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